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The Real Barack Obama

 
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  #29  
Old 03-15-2008, 10:52 PM
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Location: North Idaho
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Uh, Bill gates donates almost half his income this is old news. He was simply stating that the system is ass backwards and it is. Examle: I make 5000 a month only 3000 goes in my pocket to taxes. My buddy makes 21000 a month and he keeps 19000. Doesn't really make since does it?
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  #30  
Old 03-16-2008, 07:49 AM
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Quote:
Originally Posted by linksmechanic View Post
Uh, Bill gates donates almost half his income this is old news. He was simply stating that the system is ass backwards and it is. Examle: I make 5000 a month only 3000 goes in my pocket to taxes. My buddy makes 21000 a month and he keeps 19000. Doesn't really make since does it?
Somebody is lying to you!

If your friend has a net wages of 2 1/2 million dollars he pays a lot more than 24,000 per year in taxes. If he does not, then call the IRS and you can get a hefty finders fee ( don't do this unless this guy is really an enemy )

Even though the AMT is being phased out, it is not as far as I now gone for incomes over 400,000, so I think that the minimum would be about 25%.

Now, if this 2 1/2 million is NOT considered wages by the IRS, then that is another matter.

Certainly some taxes benefit a business owner, but payroll taxes do not! For instance what you see taken out of YOUR paycheck for Social Security is also paid by the business owner, so he pays twice.

Bill Gates was talking about his TAXES, not his charitable giving! If he wants to send a few extra billion, I am sure that the IRS will gladly take it.....but then again I don't think that he or Bill Clinton have any plans on doing that!

If you doubt the WAGES/TAXES, go to Turbo Tax or H&R Block and run the taxes for yourself. There is no charge unless you actually file. Let the program tell you what your friend actually pays!

edge.
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  #31  
Old 03-16-2008, 08:56 AM
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Join Date: Dec 2005
Location: Longmont, Colorado
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Quote:
Originally Posted by linksmechanic View Post
My buddy makes 21000 a month and he keeps 19000. Doesn't really make since does it?
The one way this could be, is if your buddy makes all his money from tax free bonds. Here is an example (sort of), TaxProf Blog: More on Teresa Heinz Kerry's Tax Return for Teresa Kerry. She had 2.8 Million of tax free income. Her AGI was still 2.3 million and she paid $627, 000 in taxes. Note that they say her marginal rate was 12% on her gross income, but this isn't the whole story, since much of it was derived from tax free sources.

Perhaps your buddy is a friend of Wesly Snipes?
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Last edited by ilscungilli; 03-16-2008 at 09:00 AM.
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  #32  
Old 03-16-2008, 09:56 AM
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Sorry, I gave your friend a raise...damn decimal points

edge.
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  #33  
Old 03-16-2008, 10:52 AM
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Impliment the fair tax. Then all the fun we have with this subject would be over.

steve
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  #34  
Old 03-16-2008, 12:17 PM
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Location: SW Michigan
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OK so who off this site is running? I would vote for anyone except who is running right now. I dont care if they went to a junior college or a major university or have a high school diploma. We need to have someone in office to represent the majority and that is not the silver spoon ivy leaugers. Its the blue collar work your ***** off so stuff dosent get repo'ed. We need someone who has commen sense and actually can speak what is on their mind and not feed all of us a line of crap, just to try to bs thier way into being the most powerful person in the world. You dont need to be book smart thats why you have advisors you need to be a compitent decision maker. End NAFTA, CAFTA and bring jobs back to the US Its no wonder were headed towards another recession HMMMM lets see ship all of our decent paying manufacturing jobs out of the country which inturn shuts down all of the tool and die shops, and so on so forth. Damn I wonder why we cant sell cars and houses. Maybe if people had jobs making more than 12 dollars an hour they could afford to buy things. SORRY I'm done venting now. :eek:
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  #35  
Old 03-17-2008, 08:56 AM
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Join Date: Dec 2007
Location: Sagauache County, Co...3170 sq miles, not a single stop light!
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there are only 2 choices....

whether its hillary or barrack vs mccain.....the choice is plain to me. do you want someone who will move this country toward socialism or someone who will try to hold the line on taxes and gov spending. mccain would not have been my first choice, but right now he is the ONLY choice. lets get our collective heads out of the sand and get behind him. AJ
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